<h3>關鍵洞察</h3>
<ul>
<li>使用兩階段自由現金流折現法，樂普醫療科技（上海）的公允價值估計為 21.30 港元</li>
<li>樂普醫療科技（上海）當前的 21.16 港元股價表明其交易水平與公允價值估計相似</li>
<li>行業平均公允價值折扣為 8.5%，這表明樂普醫療科技（上海）的同行目前交易的折扣更高</li>
</ul>
<p>在本文中，我們將通過預期未來現金流並將其折現到今天的價值來估算樂普醫療科技（上海）有限公司（HKG:2291）的內在價值。這次我們將使用折現現金流（DCF）模型。不要被術語嚇到，背後的數學其實相當簡單。</p>
<p>我們要提醒的是，評估公司的方法有很多種，像 DCF 一樣，每種技術在某些情況下都有其優缺點。如果你對這種估值方法還有一些疑問，可以查看 Simply Wall St 的分析模型。</p>
<p>我們發現 21 只美國股票預計明年將支付超過 6% 的股息收益率。查看完整列表，免費獲取。</p>
<h2>樂普醫療科技（上海）是否被合理估值？</h2>
<p>我們將使用兩階段 DCF 模型，顧名思義，它考慮了兩個增長階段。第一階段通常是一個較高的增長期，隨後逐漸趨於終值，這在第二個 “穩定增長” 階段中體現。首先，我們需要估算未來十年的現金流。由於沒有分析師對自由現金流的估計可供我們參考，我們將從公司最後報告的值中推算出之前的自由現金流（FCF）。我們假設自由現金流減少的公司會減緩其縮減速度，而自由現金流增長的公司在此期間會看到其增長速度放緩。我們這樣做是為了反映出增長在早期階段往往比後期階段放緩得更快。</p>
<p>DCF 的核心思想是未來的一美元不如今天的一美元有價值，因此我們需要將這些未來現金流的總和折現，以得出現值估計：</p>
<h4>10 年自由現金流（FCF）預測</h4>
<table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td></td>
<td><strong>2026</strong></td>
<td><strong>2027</strong></td>
<td><strong>2028</strong></td>
<td><strong>2029</strong></td>
<td><strong>2030</strong></td>
<td><strong>2031</strong></td>
<td><strong>2032</strong></td>
<td><strong>2033</strong></td>
<td><strong>2034</strong></td>
<td><strong>2035</strong></td>
</tr>
<tr>
<td><strong>槓桿自由現金流（人民幣，百萬）</strong></td>
<td>人民幣 227.6 百萬</td>
<td>人民幣 265.5 百萬</td>
<td>人民幣 298.7 百萬</td>
<td>人民幣 327.2 百萬</td>
<td>人民幣 351.7 百萬</td>
<td>人民幣 372.9 百萬</td>
<td>人民幣 391.7 百萬</td>
<td>人民幣 408.7 百萬</td>
<td>人民幣 424.4 百萬</td>
<td>人民幣 439.2 百萬</td>
</tr>
<tr>
<td><strong>增長率估算來源</strong></td>
<td>估算 @ 22.66%</td>
<td>估算 @ 16.67%</td>
<td>估算 @ 12.48%</td>
<td>估算 @ 9.54%</td>
<td>估算 @ 7.49%</td>
<td>估算 @ 6.05%</td>
<td>估算 @ 5.04%</td>
<td>估算 @ 4.33%</td>
<td>估算 @ 3.84%</td>
<td>估算 @ 3.50%</td>
</tr>
<tr>
<td><strong>現值（人民幣，百萬）按 7.6% 折現</strong></td>
<td>人民幣 212</td>
<td>人民幣 230</td>
<td>人民幣 240</td>
<td>人民幣 244</td>
<td>人民幣 244</td>
<td>人民幣 241</td>
<td>人民幣 235</td>
<td>人民幣 228</td>
<td>人民幣 220</td>
<td>人民幣 212</td>
</tr>
</tbody>
</table>
<p><em>(&#34;Est&#34; = FCF 增長率由 Simply Wall St 估算)</em></p>
<p><strong>10 年現金流現值（PVCF）</strong> = 人民幣 23 億</p>
<p>在計算初始 10 年期間未來現金流的現值後，我們需要計算終值，該終值考慮了第一階段之後所有未來現金流。使用戈登增長公式計算終值，未來年增長率等於 10 年期政府債券收益率的 5 年平均值 2.7%。我們以 7.6% 的股本成本將終端現金流折現到今天的價值。</p>
<p><strong>終值（TV）</strong> = FCF2035 × (1 + g) ÷ (r – g) = 人民幣 439 百萬× (1 + 2.7%) ÷ (7.6%– 2.7%) = 人民幣 93 億</p>
<p><strong>終值現值（PVTV）</strong> = TV / (1 + r) 10= 人民幣 93 億÷ ( 1 + 7.6%) 10= 人民幣 45 億</p>
<p>總價值或股權價值是未來現金流現值的總和，在這種情況下為人民幣 68 億。在最後一步中，我們將股權價值除以流通在外的股份數量。與當前股價 21.2 港元相比，該公司在當前股價交易時約為公允價值，折扣為 0.7%。不過，估值是一種不精確的工具，就像望遠鏡一樣——移動幾度就會進入不同的星系。請記住這一點。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/1774404533-dcf-1-dark-2/1760571684174?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/1774404533-dcf-1-dark-2/1760571684174"/></p>
<p>SEHK:2291 折現現金流 2025 年 10 月 15 日</p>
<h2>重要假設</h2>
<p>我們要指出，折現現金流最重要的輸入是折現率和實際現金流。你不必同意這些輸入，我建議你自己重新計算並進行調整。DCF 也沒有考慮行業的週期性或公司的未來資本需求，因此它並不能全面反映公司的潛在表現。考慮到我們將樂普醫療科技（上海）視為潛在股東，使用股本成本作為折現率，而不是資本成本（或加權平均資本成本，WACC），後者考慮了債務。在此計算中，我們使用了 7.6%，這是基於 0.928 的槓桿貝塔。貝塔是衡量股票相對於整體市場波動性的指標。我們從全球可比公司的行業平均貝塔中獲得我們的貝塔，並設定在 0.8 到 2.0 之間，這是一個適合穩定業務的合理範圍。</p>
<p>查看我們對樂普醫療科技（上海）的最新分析</p>
<h3>樂普醫療科技（上海）的 SWOT 分析</h3>
<p><strong>優勢</strong></p>
<ul>
<li>過去一年的盈利增長超過了行業水平。</li>
</ul>
<ul>
<li>目前無債務。</li>
</ul>
<p>2291 的資產負債表摘要。</p>
<p><strong>劣勢</strong></p>
<ul>
<li>過去一年的盈利增長低於其 5 年平均水平。</li>
</ul>
<ul>
<li>與醫療設備市場前 25% 的股息支付者相比，股息較低。</li>
</ul>
<p><strong>機會</strong></p>
<ul>
<li>年度盈利預計將比香港市場增長更快。</li>
</ul>
<ul>
<li>基於市盈率和估計公允價值的良好價值。</li>
</ul>
<p><strong>威脅</strong></p>
<ul>
<li>股息未被現金流覆蓋。</li>
</ul>
<p>查看 2291 的股息歷史。</p>
<h2>下一步：</h2>
<p>估值只是構建投資論點的一方面，理想情況下，它不會是你對一家公司進行審查的唯一分析工具。DCF 模型並不是一個完美的股票估值工具。相反，DCF 模型的最佳用途是測試某些假設和理論，以查看它們是否會導致公司被低估或高估。例如，如果終值增長率稍作調整，可能會顯著改變整體結果。對於樂普醫療科技（上海），我們整理了三個你應該進一步研究的要素：</p>
<ol>
<li><strong>風險</strong>：我們認為在投資樂普醫療科技（上海）之前，你應該評估我們標記的 <strong>1 個警告信號</strong>。</li>
<li><strong>未來收益</strong>：2291 的增長率與其同行和更廣泛市場相比如何？通過與我們的免費分析師增長預期圖表互動，深入瞭解未來幾年的分析師共識數字。</li>
<li><strong>其他高質量替代品</strong>：你喜歡全能型股票嗎？探索我們的高質量股票互動列表，瞭解你可能錯過的其他投資機會！</li>
</ol>
<p>PS. Simply Wall St 應用程序每天對香港證券交易所的每隻股票進行折現現金流估值。如果你想找到其他股票的計算方法，請在這裏搜索。</p>

心泰醫療

<p>樂普心泰醫療科技（上海）有限公司（HKG:2291）的估計公允價值為 21.30 港元，目前股價為 21.16 港元，表明其交易接近公允價值。使用了兩階段折現現金流（DCF）模型來估算未來現金流，得出的總股權價值為 68 億人民幣。分析表明該公司的估值合理，當前股價有輕微的 0.7% 折扣。然而，估值可能不夠精確，應謹慎對待</p>

<h3>Key Insights</h3>
<div class="lb-trans"><h3>關鍵洞察</h3>
</div><ul>
<li>Using the 2 Stage Free Cash Flow to Equity, LEPU ScienTech Medical Technology (Shanghai) fair value estimate is HK$21.30</li>
<li>LEPU ScienTech Medical Technology (Shanghai)'s HK$21.16 share price indicates it is trading at similar levels as its fair value estimate</li>
<li>Industry average discount to fair value of 8.5% suggests LEPU ScienTech Medical Technology (Shanghai)'s peers are currently trading at a higher discount</li>
</ul>
<div class="lb-trans"><ul>
<li>使用兩階段自由現金流折現法，樂普醫療科技（上海）的公允價值估計為 21.30 港元</li>
<li>樂普醫療科技（上海）當前的 21.16 港元股價表明其交易水平與公允價值估計相似</li>
<li>行業平均公允價值折扣為 8.5%，這表明樂普醫療科技（上海）的同行目前交易的折扣更高</li>
</ul>
</div><p>In this article we are going to estimate the intrinsic value of LEPU ScienTech Medical Technology (Shanghai) Co., Ltd. (HKG:2291) by taking the expected future cash flows and discounting them to today's value. We will use the Discounted Cash Flow (DCF) model on this occasion. Don't get put off by the jargon, the math behind it is actually quite straightforward.</p>
<div class="lb-trans"><p>在本文中，我們將通過預期未來現金流並將其折現到今天的價值來估算樂普醫療科技（上海）有限公司（HKG:2291）的內在價值。這次我們將使用折現現金流（DCF）模型。不要被術語嚇到，背後的數學其實相當簡單。</p>
</div><p>We would caution that there are many ways of valuing a company and, like the DCF, each technique has advantages and disadvantages in certain scenarios. If you still have some burning questions about this type of valuation, take a look at the Simply Wall St analysis model.</p>
<div class="lb-trans"><p>我們要提醒的是，評估公司的方法有很多種，像 DCF 一樣，每種技術在某些情況下都有其優缺點。如果你對這種估值方法還有一些疑問，可以查看 Simply Wall St 的分析模型。</p>
</div><p>We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free.</p>
<div class="lb-trans"><p>我們發現 21 只美國股票預計明年將支付超過 6% 的股息收益率。查看完整列表，免費獲取。</p>
</div><h2>Is LEPU ScienTech Medical Technology (Shanghai) Fairly Valued?</h2>
<div class="lb-trans"><h2>樂普醫療科技（上海）是否被合理估值？</h2>
</div><p>We are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period. To begin with, we have to get estimates of the next ten years of cash flows. Seeing as no analyst estimates of free cash flow are available to us, we have extrapolate the previous free cash flow (FCF) from the company's last reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.</p>
<div class="lb-trans"><p>我們將使用兩階段 DCF 模型，顧名思義，它考慮了兩個增長階段。第一階段通常是一個較高的增長期，隨後逐漸趨於終值，這在第二個 “穩定增長” 階段中體現。首先，我們需要估算未來十年的現金流。由於沒有分析師對自由現金流的估計可供我們參考，我們將從公司最後報告的值中推算出之前的自由現金流（FCF）。我們假設自由現金流減少的公司會減緩其縮減速度，而自由現金流增長的公司在此期間會看到其增長速度放緩。我們這樣做是為了反映出增長在早期階段往往比後期階段放緩得更快。</p>
</div><p>A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we need to discount the sum of these future cash flows to arrive at a present value estimate:</p>
<div class="lb-trans"><p>DCF 的核心思想是未來的一美元不如今天的一美元有價值，因此我們需要將這些未來現金流的總和折現，以得出現值估計：</p>
</div><h4>10-year free cash flow (FCF) forecast</h4>
<div class="lb-trans"><h4>10 年自由現金流（FCF）預測</h4>
</div><table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td></td>
<td><strong>2026</strong></td>
<td><strong>2027</strong></td>
<td><strong>2028</strong></td>
<td><strong>2029</strong></td>
<td><strong>2030</strong></td>
<td><strong>2031</strong></td>
<td><strong>2032</strong></td>
<td><strong>2033</strong></td>
<td><strong>2034</strong></td>
<td><strong>2035</strong></td>
</tr>
<tr>
<td><strong>Levered FCF (CN¥, Millions)</strong></td>
<td>CN¥227.6m</td>
<td>CN¥265.5m</td>
<td>CN¥298.7m</td>
<td>CN¥327.2m</td>
<td>CN¥351.7m</td>
<td>CN¥372.9m</td>
<td>CN¥391.7m</td>
<td>CN¥408.7m</td>
<td>CN¥424.4m</td>
<td>CN¥439.2m</td>
</tr>
<tr>
<td><strong>Growth Rate Estimate Source</strong></td>
<td>Est @ 22.66%</td>
<td>Est @ 16.67%</td>
<td>Est @ 12.48%</td>
<td>Est @ 9.54%</td>
<td>Est @ 7.49%</td>
<td>Est @ 6.05%</td>
<td>Est @ 5.04%</td>
<td>Est @ 4.33%</td>
<td>Est @ 3.84%</td>
<td>Est @ 3.50%</td>
</tr>
<tr>
<td><strong>Present Value (CN¥, Millions) Discounted @ 7.6%</strong></td>
<td>CN¥212</td>
<td>CN¥230</td>
<td>CN¥240</td>
<td>CN¥244</td>
<td>CN¥244</td>
<td>CN¥241</td>
<td>CN¥235</td>
<td>CN¥228</td>
<td>CN¥220</td>
<td>CN¥212</td>
</tr>
</tbody>
</table>
<div class="lb-trans"><table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td></td>
<td><strong>2026</strong></td>
<td><strong>2027</strong></td>
<td><strong>2028</strong></td>
<td><strong>2029</strong></td>
<td><strong>2030</strong></td>
<td><strong>2031</strong></td>
<td><strong>2032</strong></td>
<td><strong>2033</strong></td>
<td><strong>2034</strong></td>
<td><strong>2035</strong></td>
</tr>
<tr>
<td><strong>槓桿自由現金流（人民幣，百萬）</strong></td>
<td>人民幣 227.6 百萬</td>
<td>人民幣 265.5 百萬</td>
<td>人民幣 298.7 百萬</td>
<td>人民幣 327.2 百萬</td>
<td>人民幣 351.7 百萬</td>
<td>人民幣 372.9 百萬</td>
<td>人民幣 391.7 百萬</td>
<td>人民幣 408.7 百萬</td>
<td>人民幣 424.4 百萬</td>
<td>人民幣 439.2 百萬</td>
</tr>
<tr>
<td><strong>增長率估算來源</strong></td>
<td>估算 @ 22.66%</td>
<td>估算 @ 16.67%</td>
<td>估算 @ 12.48%</td>
<td>估算 @ 9.54%</td>
<td>估算 @ 7.49%</td>
<td>估算 @ 6.05%</td>
<td>估算 @ 5.04%</td>
<td>估算 @ 4.33%</td>
<td>估算 @ 3.84%</td>
<td>估算 @ 3.50%</td>
</tr>
<tr>
<td><strong>現值（人民幣，百萬）按 7.6% 折現</strong></td>
<td>人民幣 212</td>
<td>人民幣 230</td>
<td>人民幣 240</td>
<td>人民幣 244</td>
<td>人民幣 244</td>
<td>人民幣 241</td>
<td>人民幣 235</td>
<td>人民幣 228</td>
<td>人民幣 220</td>
<td>人民幣 212</td>
</tr>
</tbody>
</table>
</div><p><em>(&#34;Est&#34; = FCF growth rate estimated by Simply Wall St)</em></p>
<div class="lb-trans"><p><em>(&#34;Est&#34; = FCF 增長率由 Simply Wall St 估算)</em></p>
</div><p><strong>Present Value of 10-year Cash Flow (PVCF)</strong> = CN¥2.3b</p>
<div class="lb-trans"><p><strong>10 年現金流現值（PVCF）</strong> = 人民幣 23 億</p>
</div><p>After calculating the present value of future cash flows in the initial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 5-year average of the 10-year government bond yield of 2.7%. We discount the terminal cash flows to today's value at a cost of equity of 7.6%.</p>
<div class="lb-trans"><p>在計算初始 10 年期間未來現金流的現值後，我們需要計算終值，該終值考慮了第一階段之後所有未來現金流。使用戈登增長公式計算終值，未來年增長率等於 10 年期政府債券收益率的 5 年平均值 2.7%。我們以 7.6% 的股本成本將終端現金流折現到今天的價值。</p>
</div><p><strong>Terminal Value (TV)</strong> = FCF2035 × (1 + g) ÷ (r – g) = CN¥439m× (1 + 2.7%) ÷ (7.6%– 2.7%) = CN¥9.3b</p>
<div class="lb-trans"><p><strong>終值（TV）</strong> = FCF2035 × (1 + g) ÷ (r – g) = 人民幣 439 百萬× (1 + 2.7%) ÷ (7.6%– 2.7%) = 人民幣 93 億</p>
</div><p><strong>Present Value of Terminal Value (PVTV)</strong> = TV / (1 + r) 10= CN¥9.3b÷ ( 1 + 7.6%) 10= CN¥4.5b</p>
<div class="lb-trans"><p><strong>終值現值（PVTV）</strong> = TV / (1 + r) 10= 人民幣 93 億÷ ( 1 + 7.6%) 10= 人民幣 45 億</p>
</div><p>The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is CN¥6.8b. In the final step we divide the equity value by the number of shares outstanding. Compared to the current share price of HK$21.2, the company appears about fair value at a 0.7% discount to where the stock price trades currently. Valuations are imprecise instruments though, rather like a telescope - move a few degrees and end up in a different galaxy. Do keep this in mind.</p>
<div class="lb-trans"><p>總價值或股權價值是未來現金流現值的總和，在這種情況下為人民幣 68 億。在最後一步中，我們將股權價值除以流通在外的股份數量。與當前股價 21.2 港元相比，該公司在當前股價交易時約為公允價值，折扣為 0.7%。不過，估值是一種不精確的工具，就像望遠鏡一樣——移動幾度就會進入不同的星系。請記住這一點。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/1774404533-dcf-1-dark-2/1760571684174" alt="" original-src="https://images.simplywall.st/asset/chart/1774404533-dcf-1-dark-2/1760571684174"/></p>
<p>SEHK:2291 Discounted Cash Flow October 15th 2025</p>
<div class="lb-trans"><p>SEHK:2291 折現現金流 2025 年 10 月 15 日</p>
</div><h2>Important Assumptions</h2>
<div class="lb-trans"><h2>重要假設</h2>
</div><p>We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. You don't have to agree with these inputs, I recommend redoing the calculations yourself and playing with them. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at LEPU ScienTech Medical Technology (Shanghai) as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 7.6%, which is based on a levered beta of 0.928. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.</p>
<div class="lb-trans"><p>我們要指出，折現現金流最重要的輸入是折現率和實際現金流。你不必同意這些輸入，我建議你自己重新計算並進行調整。DCF 也沒有考慮行業的週期性或公司的未來資本需求，因此它並不能全面反映公司的潛在表現。考慮到我們將樂普醫療科技（上海）視為潛在股東，使用股本成本作為折現率，而不是資本成本（或加權平均資本成本，WACC），後者考慮了債務。在此計算中，我們使用了 7.6%，這是基於 0.928 的槓桿貝塔。貝塔是衡量股票相對於整體市場波動性的指標。我們從全球可比公司的行業平均貝塔中獲得我們的貝塔，並設定在 0.8 到 2.0 之間，這是一個適合穩定業務的合理範圍。</p>
</div><p>View our latest analysis for LEPU ScienTech Medical Technology (Shanghai)</p>
<div class="lb-trans"><p>查看我們對樂普醫療科技（上海）的最新分析</p>
</div><h3>SWOT Analysis for LEPU ScienTech Medical Technology (Shanghai)</h3>
<div class="lb-trans"><h3>樂普醫療科技（上海）的 SWOT 分析</h3>
</div><p><strong>Strength</strong></p>
<div class="lb-trans"><p><strong>優勢</strong></p>
</div><ul>
<li>Earnings growth over the past year exceeded the industry.</li>
</ul>
<div class="lb-trans"><ul>
<li>過去一年的盈利增長超過了行業水平。</li>
</ul>
</div><ul>
<li>Currently debt free.</li>
</ul>
<div class="lb-trans"><ul>
<li>目前無債務。</li>
</ul>
</div><p>Balance sheet summary for 2291.</p>
<div class="lb-trans"><p>2291 的資產負債表摘要。</p>
</div><p><strong>Weakness</strong></p>
<div class="lb-trans"><p><strong>劣勢</strong></p>
</div><ul>
<li>Earnings growth over the past year is below its 5-year average.</li>
</ul>
<div class="lb-trans"><ul>
<li>過去一年的盈利增長低於其 5 年平均水平。</li>
</ul>
</div><ul>
<li>Dividend is low compared to the top 25% of dividend payers in the Medical Equipment market.</li>
</ul>
<div class="lb-trans"><ul>
<li>與醫療設備市場前 25% 的股息支付者相比，股息較低。</li>
</ul>
</div><p><strong>Opportunity</strong></p>
<div class="lb-trans"><p><strong>機會</strong></p>
</div><ul>
<li>Annual earnings are forecast to grow faster than the Hong Kong market.</li>
</ul>
<div class="lb-trans"><ul>
<li>年度盈利預計將比香港市場增長更快。</li>
</ul>
</div><ul>
<li>Good value based on P/E ratio and estimated fair value.</li>
</ul>
<div class="lb-trans"><ul>
<li>基於市盈率和估計公允價值的良好價值。</li>
</ul>
</div><p><strong>Threat</strong></p>
<div class="lb-trans"><p><strong>威脅</strong></p>
</div><ul>
<li>Dividends are not covered by cash flow.</li>
</ul>
<div class="lb-trans"><ul>
<li>股息未被現金流覆蓋。</li>
</ul>
</div><p>See 2291's dividend history.</p>
<div class="lb-trans"><p>查看 2291 的股息歷史。</p>
</div><h2>Next Steps:</h2>
<div class="lb-trans"><h2>下一步：</h2>
</div><p>Valuation is only one side of the coin in terms of building your investment thesis, and it ideally won't be the sole piece of analysis you scrutinize for a company. The DCF model is not a perfect stock valuation tool. Instead the best use for a DCF model is to test certain assumptions and theories to see if they would lead to the company being undervalued or overvalued. For instance, if the terminal value growth rate is adjusted slightly, it can dramatically alter the overall result. For LEPU ScienTech Medical Technology (Shanghai), we've compiled three further elements you should further research:</p>
<div class="lb-trans"><p>估值只是構建投資論點的一方面，理想情況下，它不會是你對一家公司進行審查的唯一分析工具。DCF 模型並不是一個完美的股票估值工具。相反，DCF 模型的最佳用途是測試某些假設和理論，以查看它們是否會導致公司被低估或高估。例如，如果終值增長率稍作調整，可能會顯著改變整體結果。對於樂普醫療科技（上海），我們整理了三個你應該進一步研究的要素：</p>
</div><ol>
<li><strong>Risks</strong>: We feel that you should assess the <strong>1 warning sign for LEPU ScienTech Medical Technology (Shanghai)</strong> we've flagged before making an investment in the company.</li>
<li><strong>Future Earnings</strong>: How does 2291's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart.</li>
<li><strong>Other High Quality Alternatives</strong>: Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing!</li>
</ol>
<div class="lb-trans"><ol>
<li><strong>風險</strong>：我們認為在投資樂普醫療科技（上海）之前，你應該評估我們標記的 <strong>1 個警告信號</strong>。</li>
<li><strong>未來收益</strong>：2291 的增長率與其同行和更廣泛市場相比如何？通過與我們的免費分析師增長預期圖表互動，深入瞭解未來幾年的分析師共識數字。</li>
<li><strong>其他高質量替代品</strong>：你喜歡全能型股票嗎？探索我們的高質量股票互動列表，瞭解你可能錯過的其他投資機會！</li>
</ol>
</div><p>PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the SEHK every day. If you want to find the calculation for other stocks just search here.</p>
<div class="lb-trans"><p>PS. Simply Wall St 應用程序每天對香港證券交易所的每隻股票進行折現現金流估值。如果你想找到其他股票的計算方法，請在這裏搜索。</p>
</div>

計算樂普心泰醫療科技（上海）股份有限公司（HKG:2291）的合理價值